Yesterday, the second trading session of the week was auspicious for the Indian market. In the second half of the session, a great recovery was seen from the day's low levels. Nifty made a low of 23,842 and then from here the index saw a great recovery. This recovery was seen on the strength of three big private banks and one government bank i.e. SBI. This was the reason that banking stocks also saw a rise. By the end of the session, Nifty closed above 24,200. Once again Nifty Bank saw a rise of 1,000 points.

Yesterday, not only Nifty and Nifty Bank, but FMCG and Media index also saw a great recovery. Metals continued to rise yesterday. Buying continued in government banks as well. Today the market will be looking at the US Presidential election. Donald Trump is leading in the initial trend. But, he is also facing tough competition from Kamala Harris.

Today is the weekly expiry of Nifty Bank. Apart from this, the impact of the results of Dr Reddy's Labs and Titan was seen today. Action was seen in stocks including GAIL, Oil India, Mankind Pharma, Manappuram Finance, Waree Renewables, JK Tyre, Berger Paints, Balmer Lawrie. Which companies have quarterly results today? Apart from this, the results of Chambal Fert., Power Grid, Gujarat Gas, Apollo Hospitals, Tata Steel, Jindal Steel, Granules India will be released from the futures market today. Apart from this, the results of companies like Aadhar Housing Finance, Blue Star, Delta Corp, Dhanuka Agritech, Endurance Tech, Gandhar Oil, Jyoti Structure, KPI Green, RITES, Trident will be released from the cash market. Signals from global markets US markets closed with gains yesterday. Dow Jones, S&P 500 index and Nasdaq saw a great rise. US bond yield is at 4.335% and the dollar index is at 103.32. Crude oil also saw a rise yesterday. Republican Party's Donald Trump is currently leading Kamal Harris in the presidential election. US futures are also seeing a rise. Palantir Technologies has raised its sales forecast for 2024, after which this stock saw a rise of 23.5%. The US election will have a major impact on energy, transport, IT and pharma companies in India. Tomorrow the decision of the US central bank Federal Reserve will also have an impact on the Indian market. The market has digested the cut in interest rates by about 25 basis points. Asian markets have also started well today. Japan's Nikkei index is up 0.7%. South Korea's Kospi index is also in the green. Hong Kong's Hang Seng and China's Shanghai Composite Index are also showing signs of growth. The NPC meeting is going on in China and investors will be eyeing the possible relief package. FIIs - DIIs data Foreign institutional investors continued to sell in the cash market yesterday as well. At the same time, domestic institutional investors have also bought in the cash market yesterday. Outlook for Nifty today Rupak Dey of LKP Securities said that the daily chart is showing signs of bullish pattern reversal. He gave the opinion of buying on dips and said that as long as Nifty remains above 24,000, it will have a chance to go in the range of 24,750 - 24,800. If Nifty slips below 24,000, then the strategy will have to be changed. Nagaraj Shetty of HDFC Securities said that the short-term trend in Nifty is of reversal. The market will see the next uptrend even after crossing 24,500. At the same time, after any weakness at the current level, the index can slip towards the level of 23,900 - 23,800.

Shrikant Chauhan of Kotak Securites expects a pullback in Nifty if it remains above 24,000. After this, the index is likely to go up to the level of 24,400 - 24,500. On the other hand, traders will be advised to cut positions after breaking 24,000 from the downside.

Outlook for Nifty Bank Today
After a smart recovery from the lower levels yesterday, Nifty Bank will be in focus once again today. This index has a weekly expiry today. Nifty Bank is now very short of last week's peak of 52,320.

Rishikesh Yedve of Asit C Mehta Investment Intermediates says that Nifty Bank has formed a bullish engulfing pattern on the daily chart, which is indicating strength in the index. As long as the level of 50,865 remains in the index on the downside, the index is likely to go up to the level of 52,580. This could be a resistance zone for the index.

Aditya Agarwal of Sanctum Wealth said that Nifty Bank is looking strong in the short term. On the upside, the index can reach the levels of 52,500 and 52,800. On the downside, the zone of 51,740 - 51,400 will be important for making fresh longs.